The book that changed everything

There is one book that introduced me to investment.

Zurich Axioms

The Zurich Axioms (amazon link) by Max Gunther.

I will not even try to describe how powerful that book is, I will just quote the first chapters or axioms so you can understand why it’s so important to read this book.

On Risk:
– Worry is not a sickness but a sign of health – if you are not worried, you are not risking enough.
– Always play for meaningful stakes – if an amount is so small that its loss won’t make any significant difference, then it isn’t likely to bring any significant gains either.
– Resist the allure of diversification.

On Greed:
– Always take your profit too soon.
– Decide in advance what gain you want from a venture, and when you get it, get out.

On Hope:
– When the ship starts sinking, don’t pray. Jump.
– Accept small losses cheerfully as a fact of life. Expect to experience several while awaiting a large gain.

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